17 Business Incubators develop Strategy to accelerate Innovation commercialisation

New Delhi, Dec 12 (KNN) As many as 17 Business Incubators from across the country developed strategic business plan for their incubators. These plans were developed in the 2-day strategy workshop of incubators on innovation services in New Delhi on 11th & 12th December 2018. The workshop was organized under the ambit of MSME INNO, an Indo-German bilateral project to promote innovation in MSMEs. MSME INNO is implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in collaboration with the Ministry of MSME.

Incubators are a powerful means of supporting SMEs. Business incubators provide favourable starting supports for SMEs that help them accelerate growth and success. Business incubators, if provided the right guidance and support system, can contribute actively to development. There is a need to create a conducive environment so that inventions/ innovations are brought to the market and are commercialized, so as to build social and capital wealth.

MSME INNO project improves innovation ecosystem by strengthening and fostering cooperation between companies, research institutions, government, service providers and larger enterprises. Incubators are one of the crucial stakeholders of innovation ecosystem.

This 2 day workshop facilitated by Mr. Moritz Gekeler, International design thinking expert and coach to align the participants towards a common vision on incubation services and help them develop and customize appropriate value propositions and strategy for their own offerings.

The Technology Centres that are participating are Institute for Design of Electrical Measuring Instruments (IDEMI), Mumbai; Central Tool Room & Training Centre, Bhubaneswar, Odisha; MSME-Tool Room (Indo German Tool Room), Ahmedabad, Gujarat; MSME Technology Centre, IGTR, Aurangabad; Central Tool Room, Ludhiana; Central Institute of Tool Design, Telengana, Hyderabad and MSME-Technology Development Centre (ESTC), Ramnagar, Uttarakhand.

Academic Institutions such as Banasthali Vidyapith, Rajasthan; Guntur Engineering College, Andhra Pradesh; ANDC, University of Delhi; IIMT University, Uttar Pradesh; Jadavpur University, West Bengal; IGDTUW Anveshan Foundation, New Delhi; PIET, Nagpur, Maharashtra; ITS Engineering College, Uttar Pradesh. Other Institutions attending are Mahatma Gandhi Institute for Rural Industrialisation, Wardha and National Small Industries Corporation (NSIC). (KNN Bureau)